KEY POINTS
- Femi Otedola has denied claims that he funded the Dangote Petroleum Refinery, describing the reports as false and misleading.
- He said he has never invested any money in the project and also clarified that Aliko Dangote did not request financing from him or other top businessmen.
- Otedola warned that the claims are designed to create division among Nigeria’s business elites and urged responsible use of social media.
Nigerian billionaire businessman, Femi Otedola, has denied reports claiming he funded the Dangote Petroleum Refinery, describing the claims as false and misleading.
In a post on X (formerly Twitter), Otedola said he has not invested any money in the refinery project, directly rejecting viral social media claims suggesting otherwise.
He stressed that he did not put “a single kobo” or “a single dollar” into the project, adding that the reports were completely untrue.
Otedola also clarified that the President of the Dangote Group, Aliko Dangote, never asked him, Tony Elumelu, or Mike Adenuga for financial support for the refinery.
According to him, the Dangote Group is a well-structured organisation capable of raising funds through proper financial arrangements, without needing personal borrowing from business associates.
He described the circulating claims as a deliberate attempt to create division among Nigeria’s top private sector leaders.
Otedola warned those spreading the reports to stop immediately, saying social media should not be used to spread falsehoods or “manufactured drama.”
He added that Nigeria’s business leaders, who have created jobs and invested heavily in the economy, deserve respect and should not be dragged into misinformation.
The clarification comes amid ongoing denials from the Dangote Group over similar claims about how the refinery project was financed, insisting it followed standard corporate funding structures.
